As President Donald Trump rolls out more reciprocal tariffs amid an already scrutinized economic environment brimming with earlier tariffs imposed on both Canadian and Chinese imports, the cannabis industry is anxiously watching its costs rise. But some companies have been proactive in trying to stem the bleeding.
On April 2 at the White House Rose Garden, Trump announced 34% in reciprocal tariffs on China, one of the major countries supplying the cannabis industry with raw materials. This additional rate brings China’s total tariffs figure to 54%.
He also plans to establish a universal baseline tariff of 10% that will apply to all countries, in addition to the figures already announced.